Chemed Corporation (CHE) is primed to grow in the upcoming quarters, backed by the promising prospects of the VITAS business. The company is set to capitalize on the positive trends of the global Hospice industry. Moreover, sound financial stability appears encouraging. However, the uncertainty of the macroeconomic challenges and competitive pressure remain our concerns for Chemed's operations. Upsides Favorable Hospice Industry Trends: Within the Hospice segment, we believe that Chemed is well-poised to re ...

CINCINNATI--(BUSINESS WIRE)--Chemed Corporation (NYSE:CHE) today announced that it will deliver a presentation at the Bank of America Securities Health Care Conference 2024 on Tuesday, May 14, 2024, at 1:40 PM (PDT) at the Encore at the Wynn Las Vegas.The presentation will be webcast live and can be accessed, along with the presentation materials, through the Chemed website at www.chemed.com (Investor Relations). The webcast replay will be available within 24 hours of the live presentation and will be acces ...

CINCINNATI--(BUSINESS WIRE)--Chemed Corporation (NYSE:CHE) today announced that it will deliver a presentation at the Bank of America Securities Health Care Conference 2024 on Tuesday, May 14, 2024, at 1:40 PM (PDT) at the Encore at the Wynn Las Vegas. The presentation will be webcast live and can be accessed, along with the presentation materials, through the Chemed website at www.chemed.com (Investor Relations). The webcast replay will be available within 24 hours of the live presentation and will be acce ...

101 The following materials from Chemed Corporation's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 formatted in iXBRL (Inline eXtensible Business Reporting Language): (i) The Condensed Consolidated Balance Sheet, (ii) The Condensed Consolidated Statement of Income, (iii) The Condensed Consolidated Statement of Cash Flows, (iv) The Condensed Statement of Equity, and (v) Notes to the Condensed Consolidated Financial Statements. 104 The cover page from the Company's Quarterly Report on Fo ...

Financial Data and Key Metrics Changes - In Q1 2024, VITAS reported an average daily census (ADC) of 19,665 patients, a 10.3% increase year-over-year and a 1.6% increase sequentially [26][37] - Roto-Rooter generated quarterly revenue of $235.2 million, a decrease of 5.8% compared to the prior year [43] - Adjusted EBITDA at Roto-Rooter for Q1 2024 totaled $60.7 million, a decrease of 15.6% year-over-year, with an adjusted EBITDA margin of 25.8%, down 299 basis points from the prior year [57][78] Business Line Data and Key Metrics Changes - VITAS experienced a 4.5% increase in admissions, totaling 16,911 in Q1 2024, with growth across all segments [82] - Roto-Rooter branch residential revenue declined by 3.5% to $162.9 million, while commercial revenue decreased by 10.5% to $53.7 million [43][55] - Average revenue per patient day for VITAS was $203.8, up 212 basis points from the prior year [42] Market Data and Key Metrics Changes - Roto-Rooter faced a 9.1% decline in overall call volume compared to the prior year quarter, attributed to macroeconomic concerns and increased competition [73][89] - The residential revenue decline was within expectations, reflecting ongoing consumer sentiment challenges [50][63] Company Strategy and Development Direction - The company is focusing on integrating the recently acquired Covenant Health and Community Services, which is expected to enhance operational and financial performance [40][83] - Roto-Rooter is implementing strategies to improve commercial revenue performance, including increasing touchpoints with key accounts and upselling opportunities [21][79] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that macroeconomic issues have impacted both residential and commercial segments, but expressed confidence in the long-term growth potential of Roto-Rooter [12][14] - The company remains optimistic about VITAS's growth trajectory, citing strong hiring and retention metrics [48][92] Other Important Information - The company reported a significant increase in marketing expenses due to changes in Google search algorithms, which negatively impacted Roto-Rooter's margins [39][80] - The acquisition of Covenant is seen as a strategic move to expand service capabilities and patient access [83][96] Q&A Session Summary Question: How does the continued weakness in Roto-Rooter affect long-term growth potential? - Management stated that the long-term outlook for Roto-Rooter remains strong despite current challenges, emphasizing the brand's competitive advantages [14][75] Question: What are the expectations for margins moving forward? - Management indicated that while margins were impacted by increased marketing costs, they expect improvements as marketing spend normalizes [80][100] Question: How is the integration of the Covenant acquisition progressing? - The integration is proceeding smoothly, with expectations for operational synergies and improved patient service delivery [119][124] Question: What is the outlook for future acquisitions in the hospice sector? - The company is actively looking for additional acquisition opportunities, particularly in restricted markets, and remains optimistic about the M&A environment [95][121]

Chemed Corporation (CHE) reported adjusted earnings per share (EPS) of $5.20 in the first quarter of 2024, up 21.5% year over year. However, the figure missed the Zacks Consensus Estimate by 4.9%.The company’s GAAP EPS was $4.24, up 18.4% from last year’s reported figure.Revenues in DetailRevenues in the reported quarter improved 5.2% year over year to $589.2 million. The metric topped the Zacks Consensus Estimate by 0.3%.Segmental Details  Chemed operates through two wholly owned subsidiaries — VITAS (a ma ...

Chemed (CHE) came out with quarterly earnings of $5.20 per share, missing the Zacks Consensus Estimate of $5.47 per share. This compares to earnings of $4.82 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -4.94%. A quarter ago, it was expected that this operator of the Roto-Rooter plumbing service and Vitas Healthcare hospices would post earnings of $6.25 per share when it actually produced earnings of $6.60, delivering a sur ...

CONTACT: Michael D. Witzeman (513) 762-6714 Chemed Reports First-Quarter 2024 Results CINCINNATI, April 24, 2024—Chemed Corporation (Chemed) (NYSE: CHE), which operates VITAS Healthcare Corporation (VITAS), one of the nation's largest providers of end-of-life care, and Roto-Rooter, the nation's largest commercial and residential plumbing and drain cleaning services provider, reported financial results for its first quarter ended March 31, 2024, versus the comparable prior-year period. Changes to Non-GAAP Me ...

Chemed’s (CHE) wholly owned subsidiary, VITAS Healthcare Corporation, recently entered into an agreement to acquire all hospice operations and an assisted living facility from Covenant Health and Community Services, Inc. (Covenant). The aggregate purchase price of the transaction is fixed at $85 million.The transaction is structured as an asset purchase and the parties will seek to close the same in second-quarter 2024, subject to certain regulatory and other approvals.More on the NewsVITAS stands to gain s ...

CINCINNATI--(BUSINESS WIRE)--VITAS Healthcare Corporation, a wholly-owned subsidiary of Chemed Corporation (“Chemed”) (NYSE: CHE), announced it entered into an agreement on March 12, 2024 to acquire all hospice operations and an assisted living facility from Covenant Health and Community Services, Inc. d/b/a/ Covenant Care (“Covenant”) for an aggregate purchase price of $85 million. Covenant’s hospice operations span the panhandle of Florida and Alabama, specifically including the Tallahassee, Marianna, For ...